Nutreco on Thursday released its 2011 results, including a 25.9 percent increase in earnings for its fish-feed division, Skretting.

Skretting’s EBITA jumped to EUR 118.7 million, up from EUR 94.3 million in 2010.

“Our aquaculture division delivered a record operating result due to strong global volume growth, especially in Chile. In October 2011 we confirmed the completion of the acquisition of Shihai fish and shrimp feed company in Southwest China, which provides us with access to the largest aquaculture feed market in the world,” said Nutreco CEO Wout Dekker.

Looking forward, the company said Skretting will further capitalize on its leading fish feed positions and on the know-how of the Skretting Aquaculture Research Center for innovative and sustainable feed solutions. The portfolio of activities will be further expanded into new regions and feed for more fish species and for shrimp.

Also on Thursday, Nutreco revealed that Dekker is leaving the company by the end of 2012. He has worked at Nutreco for nearly 30 years, 12 of which he served as CEO.

Knut Nesse will succeed Dekker, moving from his role as COO of the aquaculture division.

“At the age of 55, I have spent more than half of my life at Nutreco. I have done this with the greatest pleasure and it has been more than rewarding. It has been a privilege to work with so many great people in this exciting and dynamic agriculture and aquaculture industry. Now it is time for change,” said Dekker. “I can hand over with complete trust in my successor and the executive board colleagues and in the growth potential of Nutreco. My primary priorities for 2012 are to make this year a success for the company and to conduct a good handover of responsibilities to Knut Nesse. After having stepped down, I will continue my role in supervisory boards of other companies and I will further develop my entrepreneurial interests.”

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